The Ministry of Information Technology and Telecommunication (MoITT) is actively engaged in formulating a financial system and policy structure to introduce PayPal and Stripe payment gateways in Pakistan. The objective of this initiative is to enrich the payment ecosystem for the thriving IT industry in the country by integrating these international payment gateways into the global financial framework of the IT industry, stated Muhammad Zohaib Khan, Chairman of Pakistan Software Houses Association (P@SHA).
Khan underscored the pivotal role played by Federal Caretaker Minister for Information Technology and Telecom, Dr. Umar Saif, in drawing global attention to Pakistan's IT industry during the GITEX Dubai 2023 event.
Citing Saif, Khan revealed that the Ministry of Information Technology and Telecom is actively working towards launching the Pakistan Startup Fund. This initiative is expected to attract venture capitalists to Pakistan and foster the growth of the startup culture in the nation.
The fund will be established using resources from IGNITE, the National Technology Fund, which receives funding from the telecom industry revenues of the federal government.
Khan also highlighted the establishment of the Special Investment Facilitation Council (SIFC), which has received accolades from the United Arab Emirates (UAE). SIFC has identified IT as one of its five primary focus areas.
The Chairman of P@SHA stressed the significance of innovation and financial inclusion in driving rapid growth in the IT and IT-enabled Services (ITeS) industry.
Notably, the IT sector in Pakistan holds several noteworthy distinctions, including being the sole major industry in the country with a trade surplus, the potential to generate up to $5 billion in foreign exchange within a year, the capacity to bridge Pakistan's trade deficit, and the capability to stabilize the economy by creating high-paying employment opportunities.
Khan underscored the pivotal role played by Federal Caretaker Minister for Information Technology and Telecom, Dr. Umar Saif, in drawing global attention to Pakistan's IT industry during the GITEX Dubai 2023 event.
Citing Saif, Khan revealed that the Ministry of Information Technology and Telecom is actively working towards launching the Pakistan Startup Fund. This initiative is expected to attract venture capitalists to Pakistan and foster the growth of the startup culture in the nation.
The fund will be established using resources from IGNITE, the National Technology Fund, which receives funding from the telecom industry revenues of the federal government.
Khan also highlighted the establishment of the Special Investment Facilitation Council (SIFC), which has received accolades from the United Arab Emirates (UAE). SIFC has identified IT as one of its five primary focus areas.
The Chairman of P@SHA stressed the significance of innovation and financial inclusion in driving rapid growth in the IT and IT-enabled Services (ITeS) industry.
Notably, the IT sector in Pakistan holds several noteworthy distinctions, including being the sole major industry in the country with a trade surplus, the potential to generate up to $5 billion in foreign exchange within a year, the capacity to bridge Pakistan's trade deficit, and the capability to stabilize the economy by creating high-paying employment opportunities.
No comments:
Post a Comment